Economics
ECB's Guindos Calls for Tighter Oversight of Asset Managers
- Regulators need tools to tackle rising risks in shadow banking
- Vice president also targeted ETF sector in speech in Frankfurt
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The European Central Bank’s vice president warned asset managers that they’ll face tighter scrutiny as regulators try to steer against future financial crises.
The ECB has grown increasingly vocal about the risks stemming from a rapid expansion of entities such as investment funds, which are taking on more bank-like tasks such as providing liquidity but which are regulated more lightly than commercial lenders.